Alita Resources Limited reported a net profit after tax of A$2.31 million for the six months ended Dec 31 2024, down 98.4 per cent year-on-year from A$146.14 million. The prior-period bottom-line had been inflated by a one-off gain from the divestment of its Bald Hill lithium operations, which distorted comparatives.
Earnings per share slipped to 0.16 Australian cent from 9.90 cents a year earlier. The board did not declare an interim dividend, unchanged from the previous year.
The latest interim performance reflects the group’s transition to a non-operating status following the November 2023 sale of subsidiaries Tawana Resources and Lithco No. 2. From continuing operations, pre-tax profit came in at A$1.28 million versus a pre-tax loss of A$4.10 million a year ago, driven mainly by A$2.21 million in finance income from interest on funds held in escrow. There was no contribution from discontinued operations this half, compared with a A$150.24 million post-tax profit a year earlier that included the Bald Hill disposal gain.
Administrative, compliance and regulatory costs totalled A$0.94 million, lower than the A$2.34 million booked in the previous corresponding period, reflecting a pared-back operating structure. Finance expenses were nil, following the extinguishment of borrowings after the asset sale.
Post-period, the company secured a A$2.0 million loan facility from Mineral Resources (MinRes) on Oct 10 2025 to cover ongoing compliance and management expenses while it works to resolve legacy tax assessments with the Australian Taxation Office. Alita is also pursuing the release of A$100.34 million currently held in escrow pending finalisation of these tax matters—cash that management expects will underpin future corporate initiatives once unlocked.
With no operating segments following the divestment of its mining interests, the board said it is reassessing strategic options to reposition the company. It continues to engage advisers on complex tax issues covering fiscal years 2019 to 2024 and has resumed dialogue with shareholders and stakeholders as it explores new directions.